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Cementos Molins allocates €64 million to the building of a new plant

Published by , Deputy Editor
World Cement,

In the investment section, during the first nine months of 2019, Cementos Molins has allocated €64 million, mainly to the building of a new plant in Colombia, which has been operating during October, but also to the enlargement of the San Luis plant in Argentina.

The group’s income has increased to €594 million in 2019, representing an increase of 8% compared to the same period of the previous the year (+17% without exchange rate variation), due to a greater activity, mainly in Spain and Argentina. During the first 9 months of the year, the EBITDA has grown by 6% compared to the same period of the previous year (+16% in comparable terms). The EBITDA margin amounts to 24.1%.

Net financial debt increased to €177 million as of 30 September 2019, which represents a decrease of 1% with regard to 31 December 2018 (and 10% in comparable terms) and a multiple net financial debt/EBITDA of 0.9x.

Julio Rodríguez, CEO of Cementos Molins, has said that “in an environment of great volatility and global economic slowdown, the results reached by the company between January and September 2019 consolidate our position in the market, and together with the start-up of the plant in Colombia, allow us to start 2020 with renewed ambition.”

Empresa Colombiana de Cementos (Ecocementos), a company held by Cementos Molins and Corona, has confirmed the start of production in its new cement plant in the municipality of Sonsón, Antioquia, Colombia. The installation has represented an investment beyond a billion Colombian pesos, approximately US$380 million, and it will reach a production capacity of up to 1 500 000 tpy of cement.

The building of the plant has provided a boost to the local economy, creating 120 direct jobs and 180 indirect jobs.

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